Canadian homes cost 40 per cent more than in the US

Canadians looking for a housing bargain might be better off south of the border. A graph released by BMO economist Sal Guatieri shows that the cost of an average Canadian home is 41 per cent more than the average US home.

When priced in US dollars, the average home in Canada costs $383,402 based on March prices. In the US the average home costs $271,803. The figures have been skewed by high prices in Vancouver and Toronto.

The data shows that Canada’s average home prices overtook those in the US around a decade ago.

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